NEW YORK (Jun. 9)
Joseph Levy, philanthropist and one of the leading clothing manufacturers in the United States, and the Palestine Economic Corporation, have formed a partnership to construct and manage the first U.S.-sponsored office building in Tel Aviv, it was announced here today.
A member of the board of directors of the P.E.C., and long active in the United Jewish Appeal and other Jewish philanthropies, Mr. Levy will retain a 75 percent interest in the building, which will cost approximately $500,000 to construct. The P.E.C, will invest the remaining 25 percent in the project. Mr. Levy is scheduled to fly to Israel on Tuesday.